Leasing question - MBWorld.org Forums

Mar 26, 2005 | 04:19 AM

HollaBack

Thread Starter

Member

Joined: Jun 2003

Posts: 130

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From: West Hell

Air Force 1s

Leasing question

Has anyone extented their lease? I am leasing for 39 months and think I want to keep the car until 48 months or maybe 60. Would this be an expensive move? I like the car and not sure if I want to give it back so soon.

Thanks for any help

Mar 26, 2005 | 08:04 AM

chairman

Member

Joined: Mar 2004

Posts: 241

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From: Rockville, MD

I would seriously doubt that MB Financial would

re-negotiate your lease now. Instead, consider buying the car at the end of the lease. You will have to pay the originally contracted residual as a starting point.

But your dealer could then make the car CPO'd and that will extend your warranty to 6 years and 100k miles. The cost to CPO a car should be around $1500 or so, and if the dealer has maintained the car throughout the lease this process should be a no brainer for them.

Good luck

Mar 27, 2005 | 11:43 AM

sosh

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Joined: Nov 2001

Posts: 4,260

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From: Philadelphia area

2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2

Quote:

Originally Posted by chairman

I have extended several leases with MBCC. Their first figure they give you is rediculous but as you get closer to the end of the lease they seem to get more reasonable. On the last extension the first figure was the same as the original but they eventually came off it to over $100 less per month. They also did not want to renew without additional miles which I did not need as I was under but came off of that too. If you have a problem have your dealer's GM intervene as I did and go thru his "dealer relationship manager" at MB. Worked for me with both an ML and a E320. Per the previous post, they will not extend the warranty unless they Starmark the car and that means it must be traded or purchased by the dealer for resale. Do not believe that!!